“I like participating in things that honor deserving faculty,” Jack Krogstad, PhD, CPA, says of his recent appointment to the American Accounting Association’s (AAA) 2017-2018 Innovation in Accounting Education Award committee. “It’s an honor to help recognize other educators with national reputations who are great minds in accounting.”
The award encourages innovations in accounting education. Krogstad is the only committee member who teaches in a private school.
The long-time accounting professor has had plenty of practice in honoring other people, and in being honored himself. He first came to Creighton in 1980 as the John P. Begley Endowed Chair in Accounting, holding that position for 16 years, and since 2005 has held the Union Pacific Endowed Chair in Accounting. He has served as associate dean for graduate programs and financial administration for the College of Business Administration (now the Heider College of Business) and been recognized with several teaching awards, including the AAA’s Outstanding Auditing Educator Award and the Nebraska Society of CPA’s Outstanding Accounting Education Award.
Involvement in professional organizations is important to Krogstad. He served as editor of the AAA’s journal, Auditing: A Journal of Practice & Theory, for three years and as guest co- editor for a special Auditing Education Issue of The Journal of Accounting Education. Currently, he is chairman of the world auditing board of the Seventh-day Adventist Church. This world auditing board has broad oversight responsibility for 275 auditors from 43 countries in 13 world divisions. He is the only chair the audit board has had, having assumed the role 15 years ago. It marries two of Krogstad’s loves: his professional passion for auditing and his devotion to the Gospel.
“The opportunity to do service that brings together your passion of vocation and your passion to give back to the world is a rewarding experience. It’s a tremendous feeling of worthwhileness,” he maintains.
Closer to home, Krogstad was the first recipient to receive the Graduate Faculty of the Year award. Bestowed by graduate students, the award honors a professor who has shown extraordinary dedication to his students, exceeding expectations and leaving a sustained impression on his students. Krogstad was recognized for his innovative teaching style that calls on students to not merely memorize material but internalize it through questioning concepts and challenging each other through discussion and debate.
“If you can’t write it down,” says Krogstad, “you don’t understand it.”
It’s an approach that works. He frequently receives emails from former students thanking him for his expertise. They report sailing through the audit portion of the CPA exam. “The knowledge that I gained from the classroom teachings truly allowed me to develop my understanding of the audit function of accounting,” writes one grateful graduate to Krogstad. “I appreciate knowing that I was able to translate much of what I had learned onto the CPA exam. I credit this to the impact that you had on me throughout your audit courses at Creighton.”
For his part, Krogstad succinctly states: “I love my students. I could adopt about half of them.”
Krogstad feels his 37 years at Creighton has been marked by mutual support and loyalty. He is grateful to the University for supporting his continued career development and cites different leaves of absence as proof of this support. He served a temporary 1-year appointment as an academic fellow with the U. S. Securities and Exchange Commission (SEC) and accepted an 18-month position in Washington as the director of research for the National Commission on Fraudulent Financial Reporting, which resulted in the Treadway Commission Report.
The Heider College of Business, along with Ronald B. Gartlan, BSBA ’69, accounting alumnus, Governing Board member and president and CEO of Godfather’s Pizza, are hosting the “Godfathers of Accounting” on November 16, between 5 and 7 p.m. at Omaha Country Club to honor Krogstad and his long-time colleagues, which include “Godfathers” Ronald E. Flinn, DBA; Tom D. Lewis, PhD; Thomas J. Purcell III, PhD; Vasant Raval, DBA; and Thomas A. Shimerda, PhD.
Perhaps it is that sense of community at Creighton, evidenced by events such as this, that makes Krogstad say, “I found my home here.”